Given the size of our US Equities business and our role as
a major market maker, UBS was affected by these issues, as we
believe other market participants may have been. Consistent with
our policy on market comments on our positions or intra-quarter
performance, we are not disclosing the amount of the loss, which
is not material to UBS. We are continuing to consider avenues to
recover our losses in this matter, but have not yet taken legal
action.